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fresnelman · 05-03-2009, 05:17 PM

Last December I tried to get a loan modification from CW and the rep I spoke with said there would be no problem with getting us down to 5%. Great I thought. Yeah right. CW sent a FedEX package with a Repayment Plan Agreement for the missed payments. If that is not bad enough, the package was dropped off at the front door, hidden from street, and we use the garage so we did not even know it was there. Needless to say when I phoned CW (they told me on the website not to call prior to that date or all work would have to start again) the offer had expired.
So, now we are working on catching up and we are only one month late right now. Wouldn't you know it, my wife's job was eliminated by her employer. Add to that the fact that my income has dropped by about 30% from last year we are a train wreck waiting to happen. Oh yeah, our house also dropped another 30k in value over the last two month. (according to Zillow)
House was bought for 429k and 47k pool added.
Mortgage balance is for $330,000 at 6.375%.
Does anyone think I should try again?
If so, should I do it on my own with CW or should I get a Lawyer or agency to help me out?
Any advice, as always, will be greatly appreciated.

05-03-2009, 05:17 PM	#7 (permalink)
fresnelman Member Join Date: Dec 2008 Posts: 7 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	What to do Last December I tried to get a loan modification from CW and the rep I spoke with said there would be no problem with getting us down to 5%. Great I thought. Yeah right. CW sent a FedEX package with a Repayment Plan Agreement for the missed payments. If that is not bad enough, the package was dropped off at the front door, hidden from street, and we use the garage so we did not even know it was there. Needless to say when I phoned CW (they told me on the website not to call prior to that date or all work would have to start again) the offer had expired. So, now we are working on catching up and we are only one month late right now. Wouldn't you know it, my wife's job was eliminated by her employer. Add to that the fact that my income has dropped by about 30% from last year we are a train wreck waiting to happen. Oh yeah, our house also dropped another 30k in value over the last two month. (according to Zillow) House was bought for 429k and 47k pool added. Mortgage balance is for $330,000 at 6.375%. Does anyone think I should try again? If so, should I do it on my own with CW or should I get a Lawyer or agency to help me out? Any advice, as always, will be greatly appreciated.